Analysts Set Align Technology, Inc. (ALGN) PT at $327.55

Shares of Align Technology, Inc. (NASDAQ:ALGN) have been given an average rating of “Buy” by the nineteen research firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $336.38.

ALGN has been the topic of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $220.00 target price on shares of Align Technology in a report on Thursday, April 19th. Vetr raised shares of Align Technology from a “buy” rating to a “strong-buy” rating and set a $302.42 target price on the stock in a report on Monday, March 26th. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $272.00 target price on the stock in a report on Wednesday, April 4th. Berenberg Bank initiated coverage on shares of Align Technology in a report on Friday, April 20th. They set a “buy” rating and a $305.00 target price on the stock. Finally, Credit Suisse Group increased their target price on shares of Align Technology from $300.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, May 25th.

In other Align Technology news, Director C Raymond Larkin, Jr. sold 15,000 shares of the firm’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $264.45, for a total value of $3,966,750.00. Following the sale, the director now owns 97,922 shares of the company’s stock, valued at approximately $25,895,472.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $332.38, for a total transaction of $3,323,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 188,434 shares of company stock worth $51,437,919. Insiders own 1.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Polen Capital Management LLC lifted its position in shares of Align Technology by 1.8% in the 1st quarter. Polen Capital Management LLC now owns 2,668,377 shares of the medical equipment provider’s stock worth $670,110,000 after purchasing an additional 46,871 shares during the period. Eagle Asset Management Inc. lifted its position in shares of Align Technology by 7.1% in the 1st quarter. Eagle Asset Management Inc. now owns 441,683 shares of the medical equipment provider’s stock worth $110,919,000 after purchasing an additional 29,092 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Align Technology by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 371,174 shares of the medical equipment provider’s stock worth $93,213,000 after purchasing an additional 1,684 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of Align Technology by 37.1% in the 4th quarter. TIAA CREF Investment Management LLC now owns 349,227 shares of the medical equipment provider’s stock worth $77,595,000 after purchasing an additional 94,490 shares during the period. Finally, Carillon Tower Advisers Inc. lifted its position in shares of Align Technology by 22.2% in the 1st quarter. Carillon Tower Advisers Inc. now owns 345,888 shares of the medical equipment provider’s stock worth $74,133,000 after purchasing an additional 62,820 shares during the period. 78.07% of the stock is owned by hedge funds and other institutional investors.

Shares of Align Technology traded up $5.06, hitting $375.38, on Friday, MarketBeat Ratings reports. 755,500 shares of the company’s stock traded hands, compared to its average volume of 1,040,904. Align Technology has a one year low of $155.55 and a one year high of $378.98. The firm has a market cap of $29.84 billion, a P/E ratio of 96.50, a P/E/G ratio of 2.74 and a beta of 1.57.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, April 25th. The medical equipment provider reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.19. Align Technology had a net margin of 16.12% and a return on equity of 30.36%. The company had revenue of $436.92 million for the quarter, compared to analyst estimates of $408.27 million. During the same quarter last year, the firm earned $0.59 EPS. The firm’s quarterly revenue was up 40.8% compared to the same quarter last year. equities analysts predict that Align Technology will post 4.78 earnings per share for the current fiscal year.

About Align Technology

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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